The Trump Organization is "exploring" selling the rights to the Trump International Hotel in Washington, Eric Trump, the president's son and an executive vice president of the Trump Organization, told The Wall Street Journal in a Friday report.
"Since we opened our doors, we have received tremendous interest in this hotel and as real-estate developers, we are always willing to explore our options," the younger Trump told The Journal in a statement.
The company leased the historic Old Post Office building in DC, which houses the hotel, for 60 years beginning in 2013. The Trump Organization is reportedly looking to sell the rights for about $500 million — an extraordinarily large sum by hotel industry standards.
Eric Trump cited controversy over how much money his family business had raked in from the hotel as one reason for selling it.
"People are objecting to us making so much money on the hotel, and therefore we may be willing to sell," he said.
The Trump organization oversaw a $200 million renovation of the building that began in 2014, and now pays the federal government at least $3 million a year in rent.
Legal experts and political critics have long argued that President Donald Trump's business interests, including the DC hotel, pose constitutional and ethical concerns.
The Constitution prohibits US government officials, including the president, from accepting gifts or emoluments from foreign governments. The DC hotel has been patronized by countless foreign officials since Trump took office.